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I am looking for help to secure a loan collateralized by a 50 acre parcel of land in pennsylvaia. free and clear, assessed at 1.4875 million.
loan amount needs if $500,000
I hope all is well.
I am looking for an $8,750,000 equity based loan secured by 213 acres +/- acres valued $17,500,000.
Property / land has real estate attached.
I need to close in 7 -10 business days.
The property address is 140 Aubrey Dr. Butler, PA..
The property includes a 18 H*** Golf Course (approx. 110 acres ), approx. 105 acres of vacant development land, Clubhouse, Tea House, and associated Maintenance Buildings.
All of the land with the exception of 33 acres is zoned R-2 ( 8 units per acre).
A $1,000,000.00 + Clubhouse, 60 Golf Carts, and Tea House along with golf course maintenance equip.
The property and land is owned free and clear of any liens and held in a Family Trust.
Legal Description of Property
060-2f104-13E, 060-2F104-13F, 060-2F104-23DAA, 056-4-1, 056-4-2, 056-39B.
These parcels are located in Butler and Center Twp.`s of Butler County, Pennsylvania.
Requested Loan Terms
Non-Recourse Land Loan - Quick Close is the type of loan requested. (7-10 Days)
$17,500,000 Current Market Value.
$8,750,000 Requested Loan Amount (50% LTV).
1 Year Loan Term.
8% Annual Interest Only Payments.
(The entire one (1) year of interest only payments will be prepaid at closing so that there will be no interest only payments due during the one (1) year loan term.
One (1) Point paid for Loan Origination Fees.
If your company has an interest in approving our loan request to purchase this property and need more information, please email me with the request and I will secure the requested information.
Property will be refinanced after one (1) year to repay requested loan amount.
Property will be purchased for humanitarian purposes and to be developed for assisted living facilities.
Note: All property information provided by Seller.
I look forward to answering any questions you may have via email in order to receive a preliminary decision whether or not your company is interested in financing our purchase of the above property.